Austin, TX 1/3/2008 11:44:20 PM
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Akeena Solar, Inc. (NASDAQ: AKNS) (Wed, January 2nd, 2008, 8:00am ET) Akeena Solar, Inc., a leading designer and installer of solar power systems, announced that its state-of-the-art solar panel technology, Andalay, will be distributed in Europe, Japan and Australia under a license agreement with Suntech Power Holdings Co., Ltd. (NYSE: STP) one of the world's leading manufacturers of photovoltaic (PV) cells and modules.
The terms of the Licensing Agreement authorize Suntech to distribute Andalay in Europe, Japan and Australia commencing in January 2008. This Licensing Agreement is in addition to Suntech's previous agreement to manufacture Andalay solar panels.
Andalay solar-panel technology was envisioned by Akeena's CEO, Barry Cinnamon, after years of rooftop solar installation experience and customer feedback. "Andalay improves on conventional solar panels by including built-in wiring, grounding and racking designed to provide maximum rooftop performance for consumers while minimizing installation costs for solar system installers. The result is a rooftop solar power system with superior built-in reliability with outstanding aesthetics in an all-black, streamlined appearance," said Barry Cinnamon. "Moreover, an installed Andalay system uses 70 percent fewer parts and requires 25 percent fewer attachment points than traditional solar systems, meaning better long-term performance."
Len May, Suntech's Managing Director of BIPV Products, said: "Akeena's new Andalay technology will be a valuable addition to our growing portfolio of solar products and will help keep Suntech on the leading edge of solar technology innovation. Andalay is a significant innovation that directly addresses the need to reduce the cost of solar systems, and we are confident that there will be significant demand for this attractive and high performance solar solution in markets outside of the U.S." Suntech targets sales of over 10MW of the Andalay solar panels to the licensed regions in 2008.
"We welcome this expanded collaboration with Akeena Solar to introduce this lower installed cost solution to international markets," said Dr. Zhengrong Shi, Suntech's Chairman and CEO. "The innovative Andalay panel is the perfect complement to our product offering and a clear example of Suntech's efforts to support and promote products that bring the industry closer to grid parity. This agreement will leverage Suntech's product development expertise, flexible and low cost manufacturing base, and robust global sales and distribution channels to expand the availability of this important new solar innovation."
"We are delighted Andalay will be available in select countries outside the United States through one of the world's leading manufacturers of solar cells and panels," said Barry Cinnamon. "Suntech is the natural partner to license this technology given their role in co-developing and manufacturing the product, and their extensive international distribution channels that are among the strongest in the industry. Akeena Solar and Suntech also share a focus on quality and value. We are experiencing very strong demand for Andalay, and this licensing agreement with Suntech will allow us to meet our customer's needs for Andalay outside of our direct channels in the U.S."
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Solar Night Industries (Pink Sheets: SLND) (Wed, January 2nd, 2008, 8:37am ET) Solar Night Industries, a renewable energy company formed to accelerate the adoption of Modern Energy Solutions, introduces the Solar Synapse(TM), a product, sales and marketing program designed to capitalize on the burgeoning demand for renewable energy alternatives among potential new homeowners. According to a recent Roper survey commissioned by Sharp Electronics Corporation, nearly 90 percent of Americans think that solar electricity should be an option for all new home construction. Three-quarters of survey respondents perceive solar power to be more important than ever, evidence that Americans recognize the value of solar as a modern, renewable form of energy.
The Solar Synapse Pre-Wire Kit is part of an overall program designed to empower homeowners to add energy efficiency in the future. The Kit, installed during construction, will prepare a new home for adding photovoltaic solar panels (electricity) at some future date. With new federal, state and local subsidies changing and the price of solar panels projected to halve in the next five years, the timing is perfect to make these new homes "solar ready" now. The program includes marketing materials to help the builder sell Pre-Wire Kits and provides a post-purchase activity for the new homeowner. After closing, new owners can go to the Solar Synapse (TM) site to register their kit. They will receive a copy of a "The Homeowner's Guide to Renewable Energy," plus they qualify to receive a Modern Energy Plan(TM) from SNI for their home. The revolutionary Modern Energy Plan(TM) is a customized plan that will tell them the cost to complete the total solar system, plus, educate the consumer regarding the incentives in their area.
"We feel the Solar Synapse(TM) is a unique solution for builders who seek to differentiate their business and attract the mainstreaming green market. Education is an important aspect of our business model and we believe this program teaches builders about the potential of using modern energy solutions as a best-practice, and educating the homeowner regarding their options," says Tim Corbet, CEO of Solar Night.
Solar Night is expanding the Solar Synapse(TM) product rollout via a network of Manufacturer's Representatives' from the building and renewable energy segments. For more information, go to www.SolarSynapse.com.
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China Housing & Land Development, Inc. (OTCBB: CHLN) (Wed, January 2nd, 2008, 8:00am ET) China Housing & Land Development, Inc. "China Housing", a leading developer of residential and commercial properties in the city of Xi'an announced today that it has completed the first land sale of the Company's Baqiao Project to a local developer on December 24, 2007 for total consideration of approximately $25.2 million.
This transaction included the sale of 18.4 net acres of land, which provides the capacity to develop 2.6 million square feet of real estate construction area, and encompasses a total area of approximately 25 acres, which includes government owned infrastructure such as roads, utilities and public areas. Terms include an initial payment of $15.1 million which has already been received with the balance to be paid by June 24, 2008.
The average price paid per net acre was approximately $1.37 million and the Company believes this sale will enable it to successfully surpass the 2007 Make Good Target of $16.3 million.
"We are very pleased to complete our first Baqiao land sale, which is a major inflection point in our Company's evolution and helps quantify the opportunities and value of the remaining 468.6 acres of net sellable land we control," Mr. Lu further commented. "We are currently engaged in substantial discussions with potential joint venture partner for the purpose of developing the next 80 acres of Baqiao and expect to complete an agreement during the first half of 2008 with construction to commence during the calendar year and pre-sales to begin during 2009. Additionally, we have generated approximately $16 million in Junjing Garden II pre-sales, which included nearly 400 units with an average sales price of $52 per square feet. The next phase of pre- sales will encompass 300 units and commence in 2008.
"While prices continue to trend higher at a faster rate than most areas in China, we firmly believe the large disparity in valuations as compared to other major metropolitan markets bodes very well for further development and price appreciation throughout Xi'an in the coming years. As previously stated, the local government expects to invest over $7 Billion USD during the next ten years for overall infrastructure development to accommodate approximately 900,000 new citizens in the Baqiao area. As a key component, the government expects to commence the new City Subway Engineering Project during 2008, something we view as a significant value proposition for Baqiao as it will provide connectivity to downtown, the airport and the Terra-cotta Warriors site.
We now have our strategy firmly in place to continue the infrastructure build-out, which is being facilitated through the ownership of Xi'an New Land Development subsidiary, and will enable us to develop larger joint venture partnerships during the next several years."
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